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SENATE BILL NO. 1290

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Daily Data Tracking History

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S1290...........................................................by STENNETT
LOTTERY MONEYS - Amends existing law to provide that the State Lottery
shall transfer its net income to the School District Building Account and
to delete archaic language regarding the construction of a Vietnam
Veterans' Memorial.

01/16    Senate intro - 1st rdg - to printing
01/19    Rpt prt - to St Aff

Bill Text

S1290


                                                                        
 ||||              LEGISLATURE OF THE STATE OF IDAHO             ||||
Fifty-fourth Legislature                 Second Regular Session - 1998
                                                                        

                                      IN THE SENATE

                                   SENATE BILL NO. 1290

                                       BY STENNETT

 1                                        AN ACT
 2    RELATING TO THE STATE LOTTERY; AMENDING SECTION 67-7434, IDAHO CODE,  TO  PRO-
 3        VIDE  THAT  THE  STATE LOTTERY SHALL TRANSFER ITS NET INCOME TO THE SCHOOL
 4        DISTRICT BUILDING ACCOUNT AND TO DELETE  ARCHAIC  LANGUAGE  REGARDING  THE
 5        CONSTRUCTION OF A VIETNAM VETERANS MEMORIAL.

 6    Be It Enacted by the Legislature of the State of Idaho:

 7        SECTION  1.  That  Section 67-7434, Idaho Code, be, and the same is hereby
 8    amended to read as follows:

 9        67-7434.  LOTTERY DIVIDENDS. Annually, on July 1, the lottery shall trans-
10    fer  one-half (1/2) of its net income to the permanent  building  account
11    and  one-half  (1/2)  of  its net income to the school district building
12    account, after reserving sufficient moneys to ensure the continuation  of  the
13    lottery, as determined by the director and commission.
14          A one (1) time allotment of two hundred thousand dollars ($200,000)
15    of the lottery's first year dividends shall be allocated and used by the  per-
16    manent  building  fund advisory council for the construction of a Vietnam vet-
17    erans memorial in the state. 

Statement of Purpose / Fiscal Impact

    





                            STATEMENT OF PURPOSE
    
                                  RS07548
    
    This measure would give the income from the Idaho State 
    lottery wholly to the school districts to be used for 
    building, maintenance and repair of school buildings.
    
                                FISCAL NOTE
    
    The distribution of lottery revenues to the schools would 
    double. In FY 1997 the total distribution would have been $20.0 
    million instead of $10.0 million; in FY 1998 total lottery 
    revenues are estimated to be $19.5 million. The income to the 
    Permanent Building Fund would decrease by $9-10 million per 
    year.
    
    CONTACT': Sen. Stennett
             332-1358
    
    STATEMENT OF PURPOSE/FISCAL NOTE
    
    Bill No S1290